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Making an offer on a property

When making an offer what is a reasonable percentage less than the asking price, to offer, to begin negotiations. If a property is estimated on this site at £80000 less than the asking price set by local estate agents, is it very cheeky to offer at 20% below asking price.

Asked on Oct 28 2010, House Prices in Carnforth | Report content

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  • I think 10 - 20 % less is what many people start at when making offers on properties. The worst that can happen is they decline your offer. The estimates on here are very hit and miss, they cannot be relied upon, you would be better off getting a local estate agent to give you an opinion on its valuation. Start low and see what happens, you might be lucky. I would imagine most estate agents value a house at least 10% above what they expect it to achieve, it is how to make people feel they are getting a bargain, we all just love to haggle.

    Answered on Oct 28 2010, Report content
  • I would like to put an opposing view to Homewheretheheartis. An offer 20% below the asking price is highly likely to insult the seller and bring in to question how serious a buyer you really are. We all like to haggle and to feel that we are striking a good deal, but if your objective is to buy the house at a sensible price, creating barriers between you and the seller is a poor start. An offer of 10% below is a more sensible starting point, but judge each property individually. Even paying the asking price may well turn out to be a wise investment for the "right" property.

    Answered on Oct 28 2010, Report content

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